Offshore Banking

[migtig]

Does anybody do it? If so who do you use, or rather who would you recommend? Are there any that have better rates and fees?

After some light reading (ha) it seems a lot want you to set up a corporation name. Is that correct?

I have the following countries list
Antigua
Bahamas
Barbados
Channel Islands (Jersey and Guernsey)
Dominica
Gibraltar
Hong Kong
Isle of Man
Labuan, Malaysia
Liechtenstein
Montserrat
Nauru
Nevis
Singapore
Seychelles
Switzerland
Turks and Caicos Islands

I've also heard that HSBC is a good one, but they require a minimum balance that is a tad more than I'm comfortable starting with.

Any help / guidance / pointers would be appreciated.

 

[vraiblonde]

I would be terrified to trust my money to a foreign country where I have no recourse if they decide to keep it.

 

[Baja28]

I use and highly recommend Baja Island. No minimum deposit and you can put in as much as you want. Let me know if you'd like to make a deposit.

 

[Gilligan]

I use and highly recommend Baja Island. No minimum deposit and you can put in as much as you want. Let me know if you'd like to make a deposit.

pffft. Real people with money who didn't lose it with Bernie, put it all in the only real offshore but still local bank..the Bank of St. George's Island. PM me for the contact info.

 

[RoseRed]

Hiding something?

 

[migtig]

Ahh you all are funny.

I'm actually being very serious.

The giant and I think it would be a good idea for long term savings. A lot of financial advisors are saying offshore right now, but not mentioning any particular bank or place. I've done my own research and it's not for hiding or anything (you still have to pay US taxes on interest earned)- it's just supposedly more secure and draws better interest. However, that being said you have to ensure that the banks are part of the right organizations and are a good fit for you personally.

It's tough wading through all the information and I was hoping someone had experience with it.

 

[lovinmaryland]

What about the Caymans?

On Law & Order everyone has money stashed in the Caymans!

 

[migtig]

What about the Caymans?

On Law & Order everyone has money stashed in the Caymans!

 

[EmptyTimCup]

What about the Caymans?

On Law & Order everyone has money stashed in the Caymans!

that is so 1990's drug runner ............

@migtig

personally If I had some spare cash I would go here NWT Mint and purchase some 1 oz silver bars or rounds ... and stash them at home - in my go bag


if I have bought silver @ 11 3 yrs ago when I want to do a group buy with a couple of friends I would have a nice nest egg now


of course my plan was a hedge against a general credit collapse ... I could trade silver for GAS and get out of DC

other options 'junk silver' coins .... ammo in popular calibers, sealed in .50 cal ammo cans ....


reminder Gun Show Tomorrow in Upper Marlboro

 

[migtig]

that is so 1990's drug runner ............

@migtig

personally If I had some spare cash I would go here NWT Mint and purchase some 1 oz silver bars or rounds ... and stash them at home - in my go bag


if I have bought silver @ 11 3 yrs ago when I want to do a group buy with a couple of friends I would have a nice nest egg now


of course my plan was a hedge against a general credit collapse ... I could trade silver for GAS and get out of DC

other options 'junk silver' coins .... ammo in popular calibers, sealed in .50 cal ammo cans ....


reminder Gun Show Tomorrow in Upper Marlboro

Thanks for the silver link. Have you bought from them before?

 

[Bavarian]

It is getting harder to do since the US IRS is tightening down reporting requirements from non-US banks. Even Switzerland now discloses names of numbered account holders.
Just got word that my offshore stock accounts will have to be closed due to reporting requirements. I have heard that it is best to put your money in any dollar but US. (Canada, Australia, etc.) Norsk Krone is also good.
Remember, no matter where the money is, you still have to report all offshore accounts to the Treasury every year. Only advantage is investments you can't buy in US.
Hong Kong and Singapore Banking Company is very big in the international financial system, very stable.

 

[migtig]

Thanks.